liquidate

To pay and settle. To convert assets to cash. Farmers State Bank & Trust Co. v. Brady, 137 Tex. 39, 152 S.W.2d 729, 732; Fleckner v. Bank of U. S., 21 U.S. (8 Wheat.) 338, 362, 5 L.Ed. 631.

To adjust or settle a debt. Belden v. Modern Finance Co., Ohio App., 61 N.E.2d 801, 804, 44 O.L.A. 163.

To ascertain the amount, or the several amounts, of the liabilities of the debtor and apportion the assets toward discharge of the indebtedness, Farmers State Bank & Trust Co. v. Brady, 137 Tex. 39, 152 S.W.2d 729, 732;

to ascertain the balance due and to whom payable, State ex rel. Banister v. Cantley, 330 Mo. 943, 52 S.W.2d 397, 399;

to assemble and mobilize the assets, settle with the creditors and the debtors and apportion the remaining assets, if any, among the stockholders or owners, United States v. Metcalf, C.C.A.Cal., 131 F.2d 677, 679;

to clear up, State ex rel. Banister v. Cantley, 330 Mo. 943, 52 S.W.2d 397, 399; Fleckner v. Bank of U. S., La., 21 U.S. (8 Wheat.) 338, 362, 5 L.Ed. 631;

to determine by agreement or litigation precise amount of indebtedness, Continental Ins. Co. v. Harris, 190 Ark. 1110, 82 S.W.2d 841, 843;

to discharge, Continental Ins. Co. v. Harris, 190 Ark. 1110, 82 S.W.2d 841, 843;

to extinguish an indebtedness, Belden v. Modern Finance Co., Ohio App., 61 N.E.2d 801, 804, 44 O.L.A. 163;

to gather in the assets, convert them into cash and distribute them according to the legal rights of the parties interested; to lessen, Fleckner v. Bank of U. S., La., 21 U.S. (8 Wheat.) 338, 362, 5 L.Ed. 631;

to make amount of indebtedness clear and certain, Continental Ins. Co. v. Harris, 190 Ark. 1110, 82 S.W.2d 841, 843;

to reduce to precision in amount and to satisfy, State ex rel. Banister v. Cantley, 330 Mo. 943, 52 S.W.2d 397, 399; to sell, Esser v. Chimel, 27 Del.Ch. 69, 30 A.2d 685, 687;

to "wind up" affairs of a business.

See also bankruptcy proceedings

- liquidation

- settle

- settlement